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hedge fund
hedge fund in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" positions (borrowing mon...
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money-market fund
money-market fund type of mutual fund that invests in high-yielding, short-term money-market instruments, such as U.S. government securities, commercial paper , and certificates of deposit. Returns of money-market funds usually parallel the movement of short-term interest rates. Some funds buy o...
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amortization
amortization , reduction, liquidation, or satisfaction of a debt. The term amortization may also refer to the sum used for that purpose. The term is commonly used in ascertaining the investment value of securities. Thus, if a security is bought at more than its face value (i.e., at a premium), a p...
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social security
social security government program designed to provide for the basic economic security and welfare of individuals and their dependents. The programs classified under the term social security differ from one country to another, but all are the result of government legislation and all are designed to...
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Roger Ward Babson
Roger Ward Babson 1875-1967, American businessman and statistician, b. Gloucester, Mass. In 1904 he founded the Babson Statistical Organization, Inc., whose business and financial statistics, published in Babson's Washington Service, are widely sold in the United States, Great Britain, and Canada...
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Armand Hammer
Armand Hammer 1898-1990, American business executive, b. New York City. He began in his father's pharmaceutical business and then expanded it into the Soviet Union. He returned (1930) to New York, where he invested in whiskey, cattle, and broadcasting. He invested in Occidental Petroleum Corporatio...
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sinking fund
sinking fund sum set apart periodically from the income of a government or a business and allowed to accumulate in order ultimately to pay off a debt. A preferred investment for a sinking fund is the purchase of the government's or firm's bonds that are to be paid off. Usually the fund is administe...
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banking
banking primarily the business of dealing in money and instruments of credit. Banks were traditionally differentiated from other financial institutions by their principal functions of accepting deposits—subject to withdrawal or transfer by check—and of making loans.
Types of Banks...
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Michael Norman Manley
Michael Norman Manley 1924-97, prime minister of Jamaica (1972-80, 1989-92); son of Norman Manley . A leader of the socialist People's National party, he was first elected to parliament in 1967. Winning a landslide victory in 1972, he shifted Jamaican politics to the left, establishing close relat...
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Commonwealth of Nations
Commonwealth of Nations voluntary association of Great Britain and its dependencies, certain former British dependencies that are now sovereign states and their dependencies, and the associated states (states with full internal government but whose external relations are governed by Britain). At it...
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